U.S. GDP growths three consecutive quarters

A new report published today by the U.S. Commerce department reported the GDP (measures output of goods/services by labour and property) annual growth rate for the first quarter of 2010 marginally increased by 3.2-percent.

In the previous fiscal quarter, real GPD annualized growth rate was up by 5.6-percent.

The price index for domestic purchases (growth) was up by 1.7-percent in Q1 2010, this compared to 2-percent growth in the previous fiscal quarter (Q4 2009).

This is now the third consecutive quarterly growth in U.S. GDP, confirming to economists the recession is over.

Consumer spending marginally increased by 1.6-percent (annually adjusted rate) in Q1 2010.

The reported said the deceleration in real GDP for Q1 2010 was primarily from losses in private inventory investment, and higher decreases in government spending.

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Tahir holds a Bachelor Commerce Finance degree from Ryerson University in Toronto. He is planning to purse an MBA in Finance. Write to [email protected]
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